0

 

Launching the 2015 Economic Freedom of Tanzania Report in Dar es Salaam yesterday, Uhuru Initiative for Policy and Education (UIPE) Executive Director Mr Isack Danford said that Tanzania has been among 100 nations that has economic freedom at position 82 a position held together with Turkey. Last year’s ranking showed that Tanzania has moved ten positions as compared to the previous year’s ranking (2014), which was 92.IMG_9852

“The report measures economic freedom through rates of personal choice, ability to enter into market, secured private property rights, rules of law, among others by analyzing policies and institutions from 152 countries and authorities worldwide,” he said.

Mr. Danford reported that among issues that draws back our country in economic freedom is extra payment, bribes and favoritism, bureaucracy costs, administrative requirements, centralized collective bargaining, hiring and firing regulations and hiring contracts and minimum wages.He said that on international trade the issue that affects economic freedom is investment restriction, non-tariff barriers and standard deviation of tariff rates.Mr. Danford pointed out thIMG_9857at in the form of law and ownership of private property, other factors affecting economic freedom is business costs of crime, reliability of police, legal enforcement of contracts, protection of property rights, impartial courts and judicial independence.

“All above issues put back our country in economic freedom compared to Rwanda, Uganda and Kenya,” he said, adding the report focuses more on statistics collected in 2013.Countries and authorities that are in top ten includes Hong Kong, Singapore, New Zealand, Switzerland, United Arab Emirates, Mauritius, Jordan, Ireland and Canada. According to the report, people living in the nations having high rates of economic freedom enjoy high socio welfare, political and social freedom and they exist for a long time.

The report measures economic freedom in various countries by using five restrictions, including size of government, legal structure, property rights, sound money, freedom to trade internationally and regulation ofpix 2 credit, labor and business.Fraser Institution has prepared Economic Freedom of the world report every year in collaboration with Economic Freedom Network and other private institutions dealing with research and educating people over ninety countries and authorities in the world.

You can see the levels of economic freedom of Tanzania on this link http://www.freetheworld.com/countrydata.php?country=C125&x=50&y=12 Also you can access the full report by The Fraser Institute on this link http://www.freetheworld.com/…/economic-freedom-of-the-world…

Leave a Reply